Beacon Pointe Advisors LLC Sells 22,266 Shares of Wells Fargo & Company (NYSE:WFC)

Beacon Pointe Advisors LLC reduced its stake in shares of Wells Fargo & Company (NYSE:WFC) by 5.1% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 416,704 shares of the financial services provider's stock after selling 22,266 shares during the period. Beacon Pointe Advisors LLC's holdings in Wells Fargo & Company were worth $20,510,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Stoneridge Investment Partners LLC boosted its holdings in Wells Fargo & Company by 410.5% in the 3rd quarter. Stoneridge Investment Partners LLC now owns 67,480 shares of the financial services provider's stock worth $2,757,000 after buying an additional 54,262 shares during the period. United Services Automobile Association boosted its holdings in Wells Fargo & Company by 13.7% in the 3rd quarter. United Services Automobile Association now owns 97,906 shares of the financial services provider's stock worth $4,000,000 after buying an additional 11,825 shares during the period. Synovus Financial Corp boosted its holdings in Wells Fargo & Company by 61.7% in the 3rd quarter. Synovus Financial Corp now owns 121,937 shares of the financial services provider's stock worth $4,983,000 after buying an additional 46,525 shares during the period. Trust Point Inc. bought a new position in Wells Fargo & Company in the 4th quarter worth approximately $2,499,000. Finally, WealthPlan Investment Management LLC lifted its stake in Wells Fargo & Company by 2,174.3% in the 3rd quarter. WealthPlan Investment Management LLC now owns 21,287 shares of the financial services provider's stock worth $870,000 after purchasing an additional 20,351 shares in the last quarter. 75.90% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on WFC shares. Evercore ISI increased their target price on shares of Wells Fargo & Company from $58.00 to $67.00 and gave the stock an "outperform" rating in a research note on Thursday, March 28th. Oppenheimer reiterated a "market perform" rating on shares of Wells Fargo & Company in a research note on Monday, April 15th. Morgan Stanley increased their target price on shares of Wells Fargo & Company from $63.00 to $64.00 and gave the stock an "overweight" rating in a research note on Monday, April 15th. HSBC increased their target price on shares of Wells Fargo & Company from $55.00 to $60.00 and gave the stock a "hold" rating in a research note on Thursday, March 28th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Wells Fargo & Company from $59.00 to $61.50 and gave the company a "neutral" rating in a research report on Wednesday, May 1st. Fourteen research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $58.99.

Wells Fargo & Company Trading Down 2.0 %

Wells Fargo & Company stock traded down $1.26 during trading hours on Thursday, reaching $61.08. The stock had a trading volume of 21,100,453 shares, compared to its average volume of 18,720,908. The stock has a market cap of $212.94 billion, a PE ratio of 12.96, a PEG ratio of 1.18 and a beta of 1.18. Wells Fargo & Company has a 52 week low of $38.38 and a 52 week high of $62.55. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.87 and a quick ratio of 0.86. The company has a fifty day simple moving average of $58.56 and a 200-day simple moving average of $51.48.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last announced its quarterly earnings results on Friday, April 12th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.10 by $0.10. The business had revenue of $20.86 billion for the quarter, compared to analyst estimates of $20.19 billion. Wells Fargo & Company had a net margin of 15.63% and a return on equity of 12.30%. The company's revenue was up .6% on a year-over-year basis. During the same quarter last year, the firm earned $1.23 EPS. Analysts forecast that Wells Fargo & Company will post 5.08 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Friday, May 10th will be paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date is Thursday, May 9th. Wells Fargo & Company's payout ratio is 29.23%.

Wells Fargo & Company Company Profile

Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.

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